Mortgage
What Credit Score Do You Need to Get a Mortgage?
Your credit score is one of the most important factors lenders use to determine whether you qualify for a mortgage — and at what interest rate. Here's what you need to know.
Minimum Scores by Loan Type
| Loan Type | Minimum Score | Best Rate Score |
|---|---|---|
| Conventional | 620 | 740+ |
| FHA Loan | 580 (3.5% down) / 500 (10% down) | 700+ |
| VA Loan | No official minimum (lenders: 580–620) | 700+ |
| USDA Loan | 640 | 700+ |
| Jumbo Loan | 700–720 | 760+ |
How Your Score Affects Your Rate
A higher score means a lower interest rate — and on a 30-year mortgage, even 0.5% can mean tens of thousands of dollars.
On a $300,000 loan, a score of 760 vs 620 can mean a rate difference of 1.5%, saving over $90,000 in total interest.
How to Improve Your Score Fast
- Pay down credit card balances — aim for under 30% utilization
- Don't close old accounts — length of history matters
- Don't open new credit — hard inquiries lower your score temporarily
- Dispute errors — get your free report at AnnualCreditReport.com
- Become an authorized user — on a family member's old, well-managed card
How Long Does It Take?
With consistent effort, you can improve your score by 50–100 points in 3–6 months. Major improvements (from poor to good credit) can take 1–2 years.
Plan Your Mortgage Budget
Use our mortgage calculator to estimate payments at different interest rates.
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